23 Feb The EIC Accelerator Full Application
The EIC Accelerator Full Application
Things get serious in the EIC Accelerator full application. The previous steps – Diagnostic Module and short application – have weeded out the projects that lack innovation, or a credible business model, and/or an appropriate executive team.
The surviving applicants (67% of the starters) are real contenders and this step explores their claims in minute detail. There are 2 outputs:
1. The details of the proposal are presented through a set of 100+ questions (no illustrations) in an interactive web-based portal in which almost all answers are limited to 1,000 characters. Some questions are repeated from the short application, but all aspects are explored in great detail. Confusingly, the sequence of questions is not the sequence in which the answers are presented on the portal. The questions are organised into 3 ‘chapters’: Ideation, Development and Go to market.
– Ideation – explores the product and its market, including the customer ‘pains’ and ‘Gains’ that can be addressed by its use; and the specific cases in which it will be used. You will be expected to show significant market knowledge; a clear understanding of customer needs; and of your product performance in relation to these needs.
– The Development chapter defines the work to be done to bring the product or service to market readiness, noting that you must already be at TRL 5/6 or higher. This is presented in Work Packages specifying all technical, market and management tasks, the resources and expertise required for each, and their timelines.
– The Go to market chapter defines how the product will meet market needs, the business and marketing plan, revenue model and the anticipated impact on the market and society. In this section you will be required to upload a financial annex (Excel spreadsheet), Freedom To Operate (FTO) analysis, Data Management Plan and optional letters of support.
2. The business is also presented in a Pitch deck. Unlike the deck in the short application, this one is intended for presentation, but only at the face-to-face interview if the application progresses to that stage. There is no opportunity to change this deck after the full application stage. Lira believes that it is used by evaluators as a summary introduction, particularly because there are no illustrations in the portal. It therefore has an important role in the long application.